Shiba Inu expands to Solana network, driving 199% volume surge

Shiba Inu (SHIB) has officially expanded into the Solana ecosystem through an integration with Sunrise. This move allows the Ethereum-based ERC20 token to be traded within Solana’s decentralized finance (DeFi) landscape via an official representation of the asset. The integration, supported by Wormhole Labs, aims to provide liquidity and prevent the fragmentation of trading volume by ensuring users access the canonical version of the token.

Following the Solana debut, SHIB’s 24-hour trading volume experienced a significant surge of approximately 199%, reaching roughly $101 million. While the price saw a modest increase of about 2%, market data also indicates complex exchange flows. Recent reports show a negative net flow from centralized exchanges, with approximately 356.7 billion SHIB leaving exchanges compared to 287.2 billion entering. This outflow suggests a reduction in immediate sell-side liquidity on exchanges, though a corresponding surge in user demand has not yet been fully realized.